TriCo Bancshares (NASDAQ:TCBK) Price Target Lowered to $46.00 at Keefe, Bruyette & Woods

TriCo Bancshares (NASDAQ:TCBK) had its price target lowered by Keefe, Bruyette & Woods from $48.00 to $46.00 in a research note released on Monday,Benzinga reports. The firm currently has a market perform rating on the financial services provider’s stock.

A number of other analysts have also recently issued reports on TCBK. Stephens reissued an “overweight” rating and set a $47.00 price objective on shares of TriCo Bancshares in a report on Monday. Raymond James dropped their price objective on TriCo Bancshares from $48.00 to $43.00 and set an “outperform” rating on the stock in a report on Friday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $47.80.

TriCo Bancshares Stock Performance

Shares of TCBK opened at $38.61 on Monday. The stock’s 50-day simple moving average is $39.83 and its 200 day simple moving average is $43.31. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 11.16 and a beta of 0.53. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.86. TriCo Bancshares has a 52-week low of $34.03 and a 52-week high of $51.06.

TriCo Bancshares (NASDAQ:TCBK) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.02. The business had revenue of $98.62 million for the quarter, compared to analysts’ expectations of $99.59 million. TriCo Bancshares had a return on equity of 9.63% and a net margin of 21.63%. Research analysts forecast that TriCo Bancshares will post 3.35 EPS for the current fiscal year.

TriCo Bancshares Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 21st. Investors of record on Friday, March 7th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.42%. TriCo Bancshares’s dividend payout ratio is 38.48%.

Institutional Trading of TriCo Bancshares

Several hedge funds and other institutional investors have recently bought and sold shares of TCBK. FMR LLC lifted its holdings in shares of TriCo Bancshares by 18.1% in the 4th quarter. FMR LLC now owns 2,889,943 shares of the financial services provider’s stock worth $126,291,000 after acquiring an additional 443,858 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of TriCo Bancshares by 2.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,634,684 shares of the financial services provider’s stock worth $71,436,000 after acquiring an additional 39,684 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of TriCo Bancshares by 2.4% in the 4th quarter. Franklin Resources Inc. now owns 1,568,560 shares of the financial services provider’s stock worth $68,546,000 after acquiring an additional 37,191 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of TriCo Bancshares by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 446,455 shares of the financial services provider’s stock worth $19,041,000 after acquiring an additional 25,817 shares during the last quarter. Finally, Bolthouse Investments LLC bought a new stake in shares of TriCo Bancshares in the 4th quarter worth approximately $15,457,000. Hedge funds and other institutional investors own 59.11% of the company’s stock.

TriCo Bancshares Company Profile

TriCo Bancshares operates as a bank holding company for Tri Counties Bank that provides commercial banking services to individual and corporate customers. The company accepts demand, savings, and time deposits. It also provides small business loans; real estate mortgage loans, such as residential and commercial loans; consumer loans; mortgage, auto, other vehicle, and personal loans; commercial loans, including agricultural loans; and real estate construction loans.